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Federal Reserve's Williams: U.S. Household Inequality Made December Rate Cut a 'Dilemma'
BlockBeats News, November 10th, New York Fed President Williams pointed out that data and conversations with community leaders indicate that many low-income families are experiencing an affordability crisis. The so-called "fracturing" behavior of American households may become a key factor in whether they support the Fed's rate cut in December.
When discussing the December meeting decision, Williams stated, "The nature of the current situation is that — inflation is high and shows no signs of easing, while the economy is showing some resilience." Although the U.S. labor market is still "gradually cooling," there has been "no more drastic shift." Unlike earlier this year, "no one is really talking about a recession now." The U.S. economy is performing better than many, including Williams, had feared. In April this year, he said that Trump's tariffs could push inflation to 4% and cause economic growth to be "slightly below 1%." (Jinse Finance)
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